What is new in Metatrader 5

Those who have been trading in forex markets must be aware of Metatrader, however beginners might find this word foreign. To make it simpler, Metatrader has two versions, Metatrader 4 and Metatrader 5. We can also call it MT4 and MT5.

The software Metatrader was built up basically for retail traders of foreign exchange market. Through this software a trader can speculate and earn profit from the price change by the movement of world’s major currencies.

Metatrader has been developed in its own programming language called MQL which facilitates traders to create signals indicators and custom made expert advisors.

Metatrader 5 – The Features

  • Metatrader 5 is chosen by many users as it is easier to navigate due to its larger and more spaced out buttons.
  • However this version has a smaller charting area and the Fibonacci retracement tools doesn’t work properly, unlike the Metatrader 4.
  • Metatrader 5 doesn’t provide hedging and multi hedging which are key features that most traders are concerned about when choosing a trading platform.
  • The MT5 doesn’t allow traders to hedge particularly if they prefer to trade on two systems.
  • Metatrader 5 also consumes lot of space than its previous version.
  • MT4 to MT5 conversion cannot be done because MT5 code is not backward compatible, this means that MT4’s expert advisors and indicators cannot work in the MT5 platform.
  • The MT5 offers features which the MT4 doesn’t have like advanced graphs and analytical tools with timeframes including 2 minutes and 8 hours.
  • Further to this, Metatrader 5 offers more ways to trades in terms of both investment instruments and trade methodologies.

While the MT4 and MT5 are developed to perform the same work that is forex trading, they are little different and provide different features which are both at advantage and disadvantage for forex brokers.

Most of the forex traders prefer MT4 then MT5 due to the ease of use of the older version.